By Muyu Xu SINGAPORE (Reuters) – China’s oil trading giant Unipec has swept up low-priced supplies of crude from Abu Dhabi, Brazil and the United States, taking advantage of a drop in supertanker freight rates and spot prices in a well-supplied market, traders said. The purchases by the trading arm of Asia’s largest state-backed refiner …
Chinese oil trader Unipec sweeps up cheap crude, eyes demand recovery Read More »
By Hyunsu Yim SEOUL(Reuters) – The administration of South Korean president Yoon Suk Yeol wants to allow people to work up to 69 hours a week – up from the current 52 – and bank overtime hours in exchange for time off, a plan it hopes will promote family growth alongside productivity. The government says …
By Elaine Lies TOKYO (Reuters) – Masami Fujino got his first raise in 20 years recently, but it’s still not enough to let the Tokyo day labourer treat himself to plain McDonald’s hamburgers as much as he used to. “Last year, I finally got a bit of a raise at one place,” said the 54-year-old, …
First raise for Japan day labourer in 20 years, but McDonald’s out of reach Read More »
By Junko Fujita and Tom Westbrook SINGAPORE (Reuters) – Japan’s central bank appears to have scored an interim win in its long-drawn battle with bond bears. The Bank of Japan’s (BOJ) policy meeting this week was, at first glance, a damp squib for excited markets. It maintained its cap on 10-year yields, defying market expectations …
By Kantaro Komiya TOKYO (Reuters) – A leading indicator of Japanese consumer prices likely rose in January at more than twice the speed of the central bank’s target, hitting another four-decade-high, a Reuters poll showed on Friday. Inflation data in the world’s third-largest economy has received unusual attention amid market expectations of a shift in …
Tokyo core inflation likely double BOJ’s 2% target in January: Reuters Poll Read More »
By Sonali Paul MELBOURNE (Reuters) -A huge solar power project in Australia that collapsed last week will be put up for sale before the end of January and the sale process is expected to take about three months, administrators at FTI Consulting said on Friday. The administrators said they plan to appoint an adviser shortly …
Australia-to-Asia power project to go up for sale in January Read More »
By Svea Herbst-Bayliss NEW YORK (Reuters) – Hedge fund ValueAct Capital urged Seven & i Holdings shareholders on Thursday to back a spin-off of the company’s 7-Eleven convenience store chain, arguing the move would improve the conglomerate’s valuation and corporate governance. The U.S.-based investment firm, which owns a 4.4% stake in the Japanese company and …
Exclusive-ValueAct calls for Seven & i to spin off 7-Eleven retail chain Read More »
SEOUL (Reuters) – South Korea’s producer inflation slowed in December for a sixth month, dropping to the lowest rate in 20 months, central bank data showed on Friday. The country’s producer price index stood 6% higher in December than a year ago, compared with 6.2% in November, according to the Bank of Korea. The annual …
South Korea Dec producer inflation slows for sixth month Read More »
By Shariq Khan BENGALURU (Reuters) -Oil prices settled 1% higher on Thursday, extending a recent rally built around rising Chinese demand, while the market wrote off a second straight week of large builds in U.S. crude inventories. Brent crude futures gained $1.18, or 1.4%, to settle at $86.16 per barrel, while U.S. West Texas Intermediate …
Oil prices rally to highest close since Dec. 1 on China optimism Read More »
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The dollar slid on Thursday in choppy trading, as a slew of data continued to show that the U.S. economy was slowing down in the wake of multiple hefty interest rate hikes from the Federal Reserve, with the market anticipating a pause in tightening this year. “The market …
U.S. dollar slumps as data continues to show slowdown; yen rises Read More »
